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From left: Michael Stoler; Shimon Shkury, president of Ariel Property Advisors welcomes guests. NEW YORK CITY—“We believe in two things in terms of real estate. We believe in water views and transportation,” said Adam Mermelstein, managing member at Treetop Development, and a panelist at the Coffee & Cap Rates program hosted by Ariel Property Advisors at 101 Park Ave.
Water and Transportation (But Not Staten Island)
The moderator, Michael Stoler, managing director at Madison Realty Capital, noted “Coney Island is at least a one-hour schlep.” Yet developers are constructing major buildings right near the Cyclone. Stoler referenced John Catsimatidis’ huge multi-building, mixed-use development under construction on Coney Island.
Mermelstein endorsed the investment saying Coney Island offers water and a beach lifestyle that is outside the hustle-bustle of New York. Yet the neighborhood is still a bus or train ride to Midtown Manhattan.
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CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.
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